Xunlei to Postpone IPO on NASDAQ

(Beijing) -- Chinese online video service provider and software developer Xunlei, also known as Thunder Networking Technologies Co. Ltd., plans to postpone its debut in the U.S. market due to unfavorable market conditions, said a source close to Xunlei's underwriters.

Xunlei's spokesperson declined to comment on the claim, saying that the company had been required by regulations not to disclose any relevant information following its IPO application, which was filed with the U.S. Securities and Exchange Commission on June 8.